L.p. Media

August 20, 1985|By Deanne Brandon

BIGGER BID. Entertainment executives Norman Lear and A. Jerrold Perenchio on Monday raised their offer for Detroit-based Evening News Association to $565 million. L.P. Media boosted its bid for the parent of the Detroit Evening News to $1,250 a share from the $1,000 a share it offered three weeks ago. Analysts suggested that Evening News Association could fetch up to $1,400 a share and that Lear and Perenchio may have made a low initial offer believing they would have to raise the price later in a bidding war.